John Matthew Beasley Acquires 700 Shares of ArcBest Co. (NASDAQ:ARCB) Stock

ArcBest Co. (NASDAQ:ARCB) CFO John Matthew Beasley purchased 700 shares of the stock in a transaction dated Thursday, March 13th. The shares were acquired at an average cost of $74.89 per share, for a total transaction of $52,423.00. Following the completion of the acquisition, the chief financial officer now owns 8,142 shares of the company’s stock, valued at approximately $609,754.38. This represents a 9.41 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

ArcBest Stock Performance

NASDAQ:ARCB opened at $73.35 on Friday. The company has a current ratio of 1.01, a quick ratio of 1.04 and a debt-to-equity ratio of 0.10. ArcBest Co. has a 12-month low of $70.96 and a 12-month high of $153.61. The stock has a 50-day moving average price of $90.03 and a 200 day moving average price of $99.98. The stock has a market capitalization of $1.70 billion, a P/E ratio of 10.01, a P/E/G ratio of 1.70 and a beta of 1.54.

ArcBest (NASDAQ:ARCB) last released its quarterly earnings results on Friday, January 31st. The transportation company reported $1.33 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.22. ArcBest had a return on equity of 11.79% and a net margin of 4.16%. During the same quarter in the previous year, the firm posted $2.47 earnings per share. Equities research analysts forecast that ArcBest Co. will post 7 EPS for the current fiscal year.

ArcBest Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 25th. Shareholders of record on Tuesday, February 11th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.65%. The ex-dividend date was Tuesday, February 11th. ArcBest’s dividend payout ratio is presently 6.55%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Citigroup lowered their target price on ArcBest from $103.00 to $83.00 and set a “neutral” rating on the stock in a report on Tuesday, March 11th. Stephens reissued an “overweight” rating and issued a $116.00 target price on shares of ArcBest in a report on Tuesday, March 11th. Bank of America lowered their target price on ArcBest from $100.00 to $73.00 and set an “underperform” rating on the stock in a report on Wednesday. Wells Fargo & Company lowered their target price on ArcBest from $105.00 to $96.00 and set an “equal weight” rating on the stock in a report on Monday, February 3rd. Finally, Truist Financial started coverage on ArcBest in a report on Thursday. They issued a “buy” rating and a $93.00 target price on the stock. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $108.33.

Hedge Funds Weigh In On ArcBest

Institutional investors have recently added to or reduced their stakes in the company. Blue Trust Inc. grew its holdings in ArcBest by 146.3% during the 4th quarter. Blue Trust Inc. now owns 298 shares of the transportation company’s stock valued at $28,000 after buying an additional 177 shares in the last quarter. R Squared Ltd purchased a new position in ArcBest during the 4th quarter valued at approximately $40,000. Quest Partners LLC lifted its stake in shares of ArcBest by 60.6% in the 3rd quarter. Quest Partners LLC now owns 546 shares of the transportation company’s stock valued at $59,000 after purchasing an additional 206 shares during the last quarter. Smartleaf Asset Management LLC lifted its stake in shares of ArcBest by 471.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 549 shares of the transportation company’s stock valued at $51,000 after purchasing an additional 453 shares during the last quarter. Finally, Avior Wealth Management LLC lifted its stake in shares of ArcBest by 17.9% in the 3rd quarter. Avior Wealth Management LLC now owns 625 shares of the transportation company’s stock valued at $68,000 after purchasing an additional 95 shares during the last quarter. Hedge funds and other institutional investors own 99.27% of the company’s stock.

ArcBest Company Profile

ArcBest Corporation, an integrated logistics company, engages in the provision of ground, air, and ocean transportation solutions. It operates through two segments: Asset-Based and Asset-Light. The Asset-Based segment provides less-than-truckload (LTL) services, that transports general commodities, such as food, textiles, apparel, furniture, appliances, chemicals, non-bulk petroleum products, rubber, plastics, metal and metal products, wood, glass, automotive parts, machinery, and miscellaneous manufactured products.